Medtronic Acquires Aptus Endosystems
20 June 2015 - 7:00AM
Aptus Endosystems'
Helical Anchor Technology Complements Medtronic's Aortic Stent
Platform for the Treatment of Complex Aortic Disease
DUBLIN-- June 19, 2015 --
Medtronic plc (NYSE:MDT) today announced it has acquired the
assets of Aptus Endosystems, Inc., a Sunnyvale, Calif. based,
privately held medical device company focused on developing
advanced technology for endovascular aneurysm repair (EVAR) and
thoracic endovascular aneurysm repair (TEVAR). Medtronic completed
its acquisition of the assets of Aptus Endosystems in a transaction
valued at approximately $110 million. Additional terms of the
acquisition were not disclosed.
Aptus Endosystems' Heli-FX and Heli-FX® Thoracic
EndoAnchor® systems feature an endovascular deployed anchor
designed to attach a variety of aortic endografts to the native
vessel wall. This off-the-shelf, customized solution minimizes the
need for complicated procedures for the select subset of patients
who would benefit from supplementary fixation. This may include
patients with challenging anatomies, risk factors for a secondary
intervention, existing seal complications, as well as in situations
where a physician may intraoperatively determine the need for
additional security.
"We are excited to add this unique complementary,
anchor technology to our aortic portfolio," said Daveen Chopra,
vice president and general manager of the Aortic business, within
the Cardiac and Vascular Group at Medtronic. "The Heli-FX and
Heli-FX Thoracic EndoAnchor systems strongly align with our
strategy to invest in treatments that address complex aortic
disease with a vision to treat disease of the entire aorta."
The Heli-FX and Heli-FX Thoracic EndoAnchor
systems bear the CE Mark for distribution in the European Union and
are cleared by the FDA for distribution in the United States. The
Heli-FX and Heli-FX Thoracic EndoAnchor systems can be used with a
wide variety of commercially available stent grafts, including
Medtronic's Endurant® and Valiant® stent graft systems.
As part of the acquisition, Medtronic will also
distribute the TourGuide(TM) Steerable Sheath, a device with
adjustable tip that enables quick access and delivery of peripheral
vascular products to the most challenging anatomy, in the U.S. and
Europe.
"Medtronic's acquisition of the Aptus technology
is validation of our mission to bring a durable solution to
patients with challenging anatomies," said James Reinstein,
president and CEO of Aptus Endosystems. "Having the Heli-FX
available in the broad distribution channels of the market leader,
will be very good for our EVAR physicians and their patients."
Medtronic will continue the ANCHOR Registry -- a
global, multi-center, prospective post-market registry evaluating
the Heli-FX Aortic Securement System. The company also plans to
pursue approval for <10mm infrarenal proximal neck indication
for Endurant with the use of the Heli-FX EndoAnchor system.
"The aortic business is an important growth engine
for Medtronic," said Tony Semedo, president, Aortic and Peripheral
Vascular, within the Cardiac and Vascular Group at Medtronic. "We
are committed to bringing proven solutions that transform vascular
disease management. We believe this acquisition of Aptus will
further differentiate Medtronic's offerings in the market."
Medtronic will report the Aptus business as part
of its Aortic and Peripheral Vascular division within the Cardiac
and Vascular Group. The transaction is expected to meet Medtronic's
long-term financial metrics for acquisitions, and the annualized
earnings impact of this acquisition is not expected to be
material.
In collaboration with leading clinicians, researchers, and
scientists, Medtronic offers the broadest range of innovative
medical technology for the interventional and surgical treatment of
cardiovascular diseases and cardiac arrhythmias. The company
strives to offer products and services that deliver clinical and
economic value to healthcare consumers and providers worldwide.
About Aortic
Aneurysms
Aortic aneurysms are an enlarged and weakened section of the aorta,
the main artery carrying blood from the heart, which can be lethal
if left untreated. An estimated 1.5 million Americans have an
abdominal aortic aneurysm (AAA). Each year, an estimated 200,000
people in the U.S. and 100,000 people in Europe are diagnosed with
AAA. EVAR and TEVAR procedures are alternatives to open surgical
repair of aortic aneurysms. During the procedure, a minimally
invasive catheter-based system is used to implant a metal and
fabric endograft to isolate blood flow away from the aneurysm to
prevent potential rupture and death.
ABOUT
MEDTRONIC
Medtronic plc (www.medtronic.com), headquartered in Dublin,
Ireland, is the global leader in medical technology -- alleviating
pain, restoring health and extending life for millions of people
around the world.
This press release contains
forward-looking statements that involve risks and uncertainties.
Such forward-looking statements include Medtronic's intended
business strategy and expectations regarding benefits to
Medtronic's operations as a result of the closing of the Aptus
Endosystems acquisition. The statements in this release are based
upon current expectations and are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements, including
risks related to the integration of Aptus Endosystems' operations
into Medtronic's, delays or obstacles in realizing the anticipated
future benefits (including cost savings and other synergies)
resulting from the acquisition of Aptus Endosystems, difficulties
and delays inherent in the development, manufacturing, marketing
and sale of medical products and services, government regulation,
general economic conditions and other risks and uncertainties set
forth in Medtronic's periodic reports on file with the Securities
and Exchange Commission. Actual results may differ materially from
anticipated results. Medtronic does not undertake to update its
forward- looking statements.
- end -
Contacts:
Krystin Hayward
Public Relations
+1-508-261-6512
Jeff Warren
Investor Relations
+1-763-505-2696
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responsible for the content, accuracy and originality of the
information contained therein.
Source: Medtronic plc via Globenewswire
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